Illuma Labs Expands Reach of its Award-Winning Voice Authentication Solution
July 7, 2020
Credit unions are constantly working hard to ensure member satisfaction without compromising security. This is especially true when it comes to their contact center operations, where agents are maintaining the delicate balance of adhering to security protocols while providing exceptional service.
That’s why more and more credit unions are implementing technologies that simultaneously optimize both security and member experience, such as Illuma Shield, the innovative fraud prevention and voice authentication solution from Illuma Labs. Illuma Shield eliminates the need for traditional security steps like PINs, passphrases, and security questions in the contact center, authenticating members’ identities in mere seconds and saving precious time for both parties.
Illuma Labs first brought its solution into the credit union space in late 2019 after an impressive demonstration at a Strategic Link Value Creation Task Force meeting. Only a few months later, the company earned the Best of Show award at VentureTech 2019. Since then, its partnership with Strategic Link has led to substantial growth, and now, Illuma Labs has taken steps to expand its reach further into the Northwest and across the country.
The Strategic Link partner recently announced it is officially a Credit Union Service Organization (CUSO), which will ensure credit unions remain the primary focus of its tactical efforts and strategic direction.
Illuma Labs also secured an investment from The Veridian Group, a wholly owned subsidiary of Veridian Credit Union, based in Iowa, and Texas Dow Employees Credit Union, which will allow its Illuma Shield platform to address the unique and ever-evolving needs of credit unions.
“We’re honored to have the support of The Veridian Group and TDECU as we focus our product offerings on enhancing security and member experience for the credit union industry,” said Illuma Labs Founder and CEO, Milind Borkar. “Our journey into the credit union industry started with our partnership with Strategic Link and the Northwest Credit Union Association, and we are excited to bring Illuma Shield to more credit unions in the Pacific Northwest.”
Nick Evens, President of The Veridian Group, will serve on Illuma Labs’ Board of Directors to represent credit union interests and ensure credit union voices are heard at the highest level of corporate governance.
“Now more than ever, credit unions are in search of cutting-edge technology that will help them more effectively — and efficiently — serve their members, and Illuma Shield does just that. We are excited to see our partner, Illuma Labs, grow and help even more credit unions in the Northwest,” said Jason Smith, NWCUA Vice President of Strategic Resources.